Borneo Resource appoints Managing Director for Asia

By Alexander Ginting

US firm Borneo Resource Investments Ltd. on Friday announced that it hired Terrence Kirk Filbert to serve as Managing Director - Asia. Filbert previously served as the Managing Director of Big Blue Resources (Holdings) Limited, an owner of thermal coal mining concession licenses in East and Central Kalimantan, and high grade Silica concessions in Central Kalimantan.

?Mr. Filbert has intimate knowledge of the coal and mineral businesses in Indonesia and will be instrumental in increasing Borneo's presence in the Asian markets and increasing Borneo's gold and coal land portfolios,? the company said.

Borneo is looking to expand its land portfolio beyond its four gold properties in and around Talawaan and Ratatotok, North Sulawesi. The Company is moving forward on developing a second steady stream of revenue on its Ratatotok South property. Borneo is currently near the end of its processing cycle at Ratatotok and the ore enhanced carbon will be moved from the site to the Company's facilities in Manado for final processing.

Borneo is a mining company that mines gold and develops producing gold mines as well as coal mining properties in Indonesia. Borneo's current assets include three gold properties, two of which are producing gold. Borneo currently has one coal concession in Kalimantan.

Editing by Reiner Simanjuntak